Appointment of Experienced ESG Officer

Sovereign Metals Limited (ASX:SVM; AIM:SVML) (the Company or Sovereign) is pleased to announce the appointment of highly experienced environmental and social specialist Mr Marco Da Cunha, as its new Lead Environmental, Social and Governance (ESG) Officer.

Mr Da Cunha has almost 20 years of experience in the field of environmental and social management, including over a decade preparing Environmental and Social Impact Assessments (ESIAs), and Environmental Management Plans, for mining projects. In addition, Mr Da Cunha has specialist experience in Social Impact Assessments, and Management Plans, for large scale mining, oil & gas, and infrastructure projects, throughout Sub-Saharan Africa.

Recently, Mr Da Cunha was part of Rio Tinto's Simandou iron ore project team in Guinea. Simandou is the world's largest undeveloped high-grade iron ore deposit, and its development will be the largest greenfield integrated mine and infrastructure investment in Africa. Mr Da Cunha's role at Simandou involved functioning as international support to the Simandou Mine Communities and Social Performance Manager in Guinea, and the support and development of the social management strategy.

Kasiya's ESIA will now advance following the appointment of Mr Da Cunha. Sovereign has previously completed site surveys by specialist environmental and social consultants in August 2021, May 2022, and October 2023. These surveys provide a solid basis from which to advance the ESIA.

Kasiya's ESIA will be undertaken in compliance with relevant Malawian legislation, regulations, and standards; in particular, the Environmental Management Act (No. 19 of 2017) and Guidelines of Environmental Impact Assessment (DEA, 1997). The project also aims to meet international guidelines and standards, including the IFC Performance Standards on Environmental and Social Sustainability (IFC, 2012), the World Bank Group Environmental, Health and Safety Guidelines (WBG, 2007), and the Equator Principles (Equator Principles Association, 2020).

Upon Mr Da Cunha’s appointment, Managing Director, Frank Eagar commented: "Our ambition, with the development of Kasiya, is to set the global standard in Climate Smart Mining by bringing our low carbon footprint rutile and graphite products to market, while realising real-world community and environmental benefits. In order to achieve this, we have attracted the best talent and experience in the ESG field. Marco's appointment has bolstered our Owners Team's ESG capability bringing exemplary experience in environmental and social management for large-scale African mine development projects aligning and consolidating on the recent appointment of SocialEssence."